Mortgage Debt & Silent Generation

Mortgage Debt & Silent Generation

Secrets of the Silent Generation on Mortgage Debt

Since the last financial crisis, many lower income American citizens have seen their mortgage debt levels rising. This has hit those nearing or in retirement the hardest, and is one of the primary obstacles that would otherwise have provided adequate retirement funding. Actually, debt has increased substantially since the 1990’s for many individuals because wages have struggled to keep up.

As an example, in 2007, those lower income individuals carried mortgage debt for their households that was approximately twenty percent (20%) of their total income. Six years later, in 2013, that percentage had jumped to fifty percent (50%) of total income.

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